Most Valued Unicorn 'Swiggy' targets to file DRHP for $1.3 billion IPO
India’s most notable high net worth unicorn, SoftBank-supported Swiggy will probably file its DRHP - draft red herring prospectus with market regulator in India by as soon as the first week of the September month, creating the second greatest IPO of a venture capital –supported firm in the nation.
Through its initial public listing, the major quick commerce and food delivery platform aims to raise 
10, 400 crore (approximately $1.28 billion), marking it the only company capital-backed startup to surpass 10, 000 crore in a public listing next to Paytm.
10, 400 crore (approximately $1.28 billion), marking it the only company capital-backed startup to surpass 10, 000 crore in a public listing next to Paytm.
People subjected into it and aware of this matter says, “Things are moving to DRHP phase and it should be filed by first week of September. Once it’s filed, we are looking at a two-month timeline for SEBI clearance, unless they (SEBI) wants something more”.
Further they added, “The idea is to get listed this fiscal year and so we are moving towards that. The thumbrule is that Swiggy’s valuation will be 60% of Zomato’s market capitalisation, given its profitability and revenue. So in that context, Swiggy will be valued at around $16 billion or 15-17, to give a range”.
As of now, the market capitalization of Zomato was 2.28 trillion or more than $27 billion. In the month of April, with strong ambitious plan Swiggy filed documents for 10, 000 crore IPO with SEBI – Security and Exchange Board of India. Below the confidential route launched by SEBI in the year 2022, firms can retain the details of their private preliminary filings. As well this confidential route permits the companies to manage the fresh number of shares suggested by up to 50 percent until an updated draft red herring prospectus is submitted.
2.28 trillion or more than $27 billion. In the month of April, with strong ambitious plan Swiggy filed documents for 10, 000 crore IPO with SEBI – Security and Exchange Board of India. Below the confidential route launched by SEBI in the year 2022, firms can retain the details of their private preliminary filings. As well this confidential route permits the companies to manage the fresh number of shares suggested by up to 50 percent until an updated draft red herring prospectus is submitted.
